HomeMy WebLinkAbout01/31/1990CITY OF APPLE VALLEY
Dakota County, Minnesota
January 31, 1990
Minutes of the special meeting of the City Council of Apple Valley, Dakota County,
Minnesota, held January 31st, 1990, at 12:00 o'clock noon at Apple Valley City Hall.
PRESENT: Councilmembers Goodwin, Humphrey and Savanick.
ABSENT: Mayor Branning and Councilmember Holton.
City staff members present were: City Administrator Melena, City Clerk Mueller, City
Attorney Sheldon, Finance Director Ballenger, City Engineer Gordon, Public Works
Director Gretz and Community Development Director Welsch.
Acting Mayor Humphrey called the meeting to order at 12:00 noon.
Steve Mattson, of Juran & Moody, delivered, opened and read the bids BOND SALE
received for the City's bonds. The apparent low bid for $2,250,000 BID OPENING
G.O. Tax Increment Bonds is Dain Bosworth at a net interest rate of
6.486 percont. Other bids received were First Bank Systems at a net interest rate
of 6.525 percent; Piper, Jaffrey & Hopwood at 6.552 percent; Prudential Bache at
6.612 percent; Blount, Ellis, Loewe at 6.8 percent; and Clayton Brown & Associates
at 6.7705 percent.
MOTION: of Goodwin, seconded by Savanick, adopting Resolution No.
1990-32 awarding the sale to Dain Bosworth, the low bidder,
at a net interest rate of 6.486 percent, prescribing the form
and details and providing for the payment of $2,250,000
General Obligation Tax Increment Bonds of 1990. Ayes - 3 -
Nays ~ 0.
RES. 1990-32
AWARD $2,250,000
G.O. T.I. BONDS
NEGOTIATE PAY
AGENT AGREEMENT
MOTION: of Savanick, seconded by Goodwin, authorizing Juran & Moody
to negotiate a paying agent agreement, on behalf of the City,
for the Central Maintenance Facility financing. Ayes - 3 -
Nays - 0.
MOTION: of Goodwin, seconded by Savanick, to adjourn. Ayes - 3 - Nays - 0.
The meeting was adjourned at 12:20 o'clock p.m.